Cryptoassets: what counts as a disposal

You dispose of a cryptoasset when you do any of the following:

• sell cryptoassets for money
• swap one cryptoasset for a different one
• spend cryptoassets on goods or services
• give cryptoassets away as a gift
• use cryptoassets to pay a fee

Working out your gain

Your gain is the difference between what the cryptoasset was worth when you disposed of it and what it cost you to get it. The cost is called the allowable cost.

You can deduct allowable costs, including:

• the price you paid for the cryptoasset
• transaction fees
• exchange fees

Which costs you use first

If you hold the same type of cryptoasset bought at different times, you must use the pooling rules. Cryptoassets of the same type are pooled together and you use the average cost of the pool.

Tax rates

See Capital Gains Tax rates for cryptoassets.

Reporting your disposals

Report disposals on your Self Assessment tax return. Check whether you need to send one with the online checker.